Automated Clearing House (ACH)
The Automated Clearing House (ACH) is an electronic funds transfer system that facilitates the secure and efficient transfer of funds...
Ultimate Beneficial Owner (UBO)
The Ultimate Beneficial Owner (UBO) refers to the natural person(s) who ultimately owns, controls, or benefits from a legal entity...
Outsourced Service Providers (AML)
Outsourced service providers, in the context of anti-money laundering (AML), refer to third-party entities or individuals hired by organizations to...
Regulated Sector
The regulated sector refers to specific industries and businesses that are subject to regulatory oversight and compliance obligations to prevent...
Regulatory Compliance Management
Regulatory compliance management refers to the process of ensuring that an organization complies with relevant laws, regulations, and industry standards...
Compliance Policies and Procedures
Compliance policies and procedures refer to the set of rules, guidelines, and protocols established by organizations to ensure adherence to...
Financial Intermediary
A financial intermediary refers to an entity or institution that acts as a middleman or intermediary between individuals, businesses, or...
Financial Institution (FI)
A Financial Institution (FI) refers to an entity that provides financial services, such as banking, investment, insurance, or brokerage services.
Regulatory Action (AML)
Regulatory action in the context of anti-money laundering (AML) refers to the enforcement measures taken by regulatory authorities to ensure...
Compliance Audit Trail
A compliance audit trail refers to the documented record of activities, events, and transactions that are captured, maintained, and monitored...
Regulatory Reporting
Regulatory reporting refers to the process of submitting timely and accurate reports to regulatory authorities as required by applicable laws,...
Compliance Risk Management
Compliance risk management refers to the process of identifying, assessing, and mitigating risks associated with non-compliance with applicable laws, regulations,...
Data Protection and Privacy (AML)
Data protection and privacy in the context of anti-money laundering (AML) refers to the safeguarding of personal and sensitive information...
Regulatory Enforcement Actions
Regulatory enforcement actions refer to the actions taken by regulatory authorities to enforce compliance with applicable laws, regulations, and industry...
Compliance Checklist
A compliance checklist is a tool used by organizations to ensure adherence to regulatory requirements, industry standards, and internal policies.
Compliance Testing: An All-encompassing Dictionary Guide
Compliance testing is a process that evaluates whether an organization is conforming to applicable laws, regulations, and internal policies. It...
Reporting Obligations in Anti-Money Laundering (AML) Compliance: A Broad Dictionary Guide
Financial institutions have reporting obligations to fulfill when they come across transactions or activities that raise suspicions of money laundering...
Global Anti-Money Laundering (GAML): An Inclusive Dictionary Guide
Global Anti-Money Laundering (GAML) is a comprehensive framework and set of regulations aimed at preventing and detecting money laundering and...
Compliance Framework: Building a Strong Foundation for AML Compliance
A compliance framework involves conducting risk assessments to identify and evaluate AML risks. By understanding specific risks, organizations can implement...
Transaction Thresholds in Anti-Money Laundering
Explore the significance of transaction thresholds in Anti-Money Laundering (AML) compliance. Learn how these predetermined limits play a crucial role...
Compliance Training
Compliance training refers to the process of educating employees and individuals within an organization on the rules, regulations, policies, and...
AML Compliance Program: Enhancing Risk Management and Regulatory Compliance
An AML Compliance Program is essential for organizations to mitigate the risks associated with money laundering and terrorist financing. Implementing...
Blockchain Analysis
Blockchain analysis refers to the process of investigating and examining transactions recorded on a blockchain network to gain insights into...
Due Diligence Checks
Due diligence checks refer to the process of conducting comprehensive investigations and assessments on individuals, entities, or business relationships to...
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